Happy Friday!
This week, our research team tracked more than 70 tech funding deals worth more than €2.7 billion, and about a bunch of M&A transactions, IPOs, rumours, and related news stories across Europe, including Russia, Israel, and Turkey.
As always, we are putting all of them together for you in a handy list sent in our round-up newsletter (note: the full list is for paying customers only).
Recently, we also started publishing 'Today in European Tech', a daily round-up of deals and news stories that caught our attention. Keeping you updated on all things EU tech is our priority!
Today, instead of a daily round-up we give you an overview of the 10 biggest European tech news items for the past week (subscribe to our free newsletter to get this round-up in your inbox every Monday morning).
1) Klarna nabbed $1 billion at a $31 billion valuation
Klarna, which recently hit 18 million monthly users and whose operating income rose 40% in 2020, has announced a fresh injection of $1 billion in an equity funding round. This 4x oversubscribed round included a combo of new and existing investors, and closed at a valuation of $31 billion.
🦄 It’s been incredible to watch @Klarna grow into the European success story it is today since our investment in 2015
👏 @klarnaseb and his team have repeatedly demonstrated their commitment to act as a leader in their category
Reuters has more 👇https://t.co/UDAeI6WXEh— Northzone (@northzoneVC) March 1, 2021
2) Hopin raised $400 million at a $5.65 billion valuation
UK-based virtual events platform Hopin has raised a $400 million Series C round from Andreessen Horowitz, General Catalyst and others at a $5.65 billion valuation.
We've raised our Series C at @Hopin I couldn't be prouder of the work our team has done so far, but we're just getting started. @streamyardapp joining the family was a highlight for this year! We have really big plans, I've written a bit about the story.https://t.co/1M3RliCcTk
— Johnny Boufarhat (@johnnyboufarhat) March 4, 2021
3) UK food delivery firm Deliveroo will list its shares in London
Deliveroo, the UK-based meal delivery company, has chosen London as the venue for a planned $10 billion stock market listing after the government committed to rule changes that will allow founders to keep more control.
FT scoop: Deliveroo is targeting a market cap of up to $10bn in its IPO, which would give London its most valuable new listing for years https://t.co/XdLExQEQkh
— Tim Bradshaw (@tim) March 4, 2021
4) Volocopter flying high with €200 million in fresh funding
Germany-based urban air mobility firm Volocopter has secured €200 million in new funding as it gears up for certification – and commercialisation – for VoloCity, its electric air taxi.
Volocopter will bring urban air mobility to life sooner than anyone else! So proud to be a part of this! https://t.co/xo07IseMVT
— Michael Wieser (@bakingVC) March 3, 2021
5) Prague-based online grocery store Rohlik scored €190 million
Rohlik, the Czech Republic-based online grocery supermarket and delivery service founded in 2014, is now a €300 million-a-year business thanks to Covid-19. The Prague-based company today announced that it has secured €190 million in funding to fuel further growth.
Excited to announce our investment in Rohlik, an on-demand grocery startup based in Prague. While food is perhaps the highest repeat category in existence, online grocery has long been plagued with terrible customer experiences from assortment to delivery. With Rohlik, no longer! https://t.co/13JlbtNDnD
— Molly Alter (@molly_alter) March 2, 2021
6) Trustpilot is considering London for its upcoming IPO
Online reviews platforms Trustpilot said it is considering launching an IPO in London that would see at least 25% of the company floated on the London Stock Exchange.
Exciting news! Trustpilot - the next Danish SaaS Unicorn (after Zendesk) unveils plans for a £1bn IPO. My cofounder @krishnav led an earlier round & they have already spawned their own mafia including @ForecastHQ (which IMO will be the 3rd Danish Unicorn!)https://t.co/ujsaCHJ0t6
— Scott Sage (@scott_sage) March 1, 2021
7) Apple faces EU charges over Spotify complaint
EU antitrust regulators are finalising a charge sheet against Apple triggered by a complaint by Spotify.
Exclusive: Apple faces EU charges over Spotify complaint - sources https://t.co/8SSJLqIYCq pic.twitter.com/T0gqyMVDT0
— Reuters (@Reuters) March 4, 2021
8) France's Vestiaire Collective raised €178 million
Paris-based Vestiaire Collective has secured €178 million in a new funding round backed by Gucci owner Kering and Tiger Global, giving it ‘unicorn' status, to accelerate its growth in the second-hand market and "drive change for a more sustainable fashion industry”.
The team @vestiaireco were amongst the first tech companies to champion resale and up-cycling of pre-loved fashion. Congrats on reaching the >$1B status, and convincing some of most important names in the industry to support the mission:https://t.co/59BpzaqdDD
— James Wise (@jpwiseuk) March 1, 2021
9) Epic Games has acquired British game developer Tonic Games
'Fortnite' developer Epic Games has agreed to acquire Tonic Games Group, the British game studio behind 'Fall Guys'.
Epic Games said it acquired Tonic Games, the maker of Fall Guys: Ultimate Knockout, one of the breakout gaming hits during the pandemic https://t.co/T8r2KgqxAL
— Bloomberg (@business) March 2, 2021
10) A techie look at UK Chancellor Rishi Sunak's Budget
The UK’s tech sector has hailed Rishi Sunak’s spending plans in the Budget, saying the chancellor was “backing tech in a big way”.
#Budget2021: Putting tech at the core of the plan for growth - this week’s UK government Budget represents a great opportunity to place tech and digital as the cornerstone of UK economic growth after Brexit, writes @techUKCEO @techUK : https://t.co/OOY4HgNDOh
— ComputerWeekly (@ComputerWeekly) March 1, 2021
Podcast:
No podcast today due to some audio quality issues, it will be up tomorrow (Saturday)! Check out all our past episodes here.
Bonus link(s):
- So you’ve got an idea for a startup but no technical chops? Don’t let that stop you
- Why the next generation of supercomputers will (need to) be built with open hardware and software
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